NEW YORK—Covington advised Biohaven Ltd. in its agreement with Oberland Capital Management LLC for an investment of up to $600 million, with the first tranche of $250 million of gross proceeds to be funded at closing on or before April 30, 2025.
The additional capital provides significant financial resources for ongoing clinical trials across Biohaven’s full development portfolio and supports commercialization efforts in anticipation of a potential U.S. Food and Drug Administration approval of troriluzole for the treatment of patients with spinocerebellar ataxia, a group of rare and ultra-rare progressively debilitating and fatal genetic conditions for which no treatments are available.
Biohaven is a biopharmaceutical company focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, neuroscience, and oncology.
Oberland Capital is a private investment firm formed in 2013 with assets under management in excess of $3 billion, focused exclusively on investing in the global healthcare industry and specializing in flexible investment structures customized to meet the specific needs of its transaction partners.
The Covington team included Peter Schwartz, Jennifer Uren, Matthew Foster, and Nancy Rich (finance), Michael Labson (FDA regulatory), Julienne Hearn and Xiaohan (Billy) Wu (IP licensing transactions), Kurt Baca (tax), and Michael Francese (employee benefits).
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